NOVEMBER 9, 2017 – The World Bank team yesterday, formally presented the 2018 Doing Business ranking to the Federal Government as evidence of progress made by Nigeria on the recent reforms embarked upon by the government.
The World Bank in its latest ranking on Doing Business confirmed Nigeria’s progress across several indicators comprising, starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
A statement from Mr. Laolu Akande, Senior Special Assistant to the President on Media and Publicity, Office of the Vice President said “the council which is meeting for the first time since the release of the latest rankings by the World Bank will look at the significance of Nigeria’s ranking, especially as the country features as one of the 10 economies showing the most notable improvement in Doing Business 2018.”
He noted that “other indices that will feature in the council’s discussions on Doing Business index include the distance to frontier metric which rose from 48.18 in 2017 to 52.03 in the 2018 outlook, and per capita income, among other issues.”
Akande also disclosed that the Presidential Enabling Business Environment Council (PEBEC) will appraise the ongoing implementation of the second National Action Plan (NAP 2.0.) as well as get an update on PEBEC special projects.